- Midas and Interop Labs have launched mXRP, a new tokenised product that converts idle XRP holdings into yield-generating assets, with a projected return of 6% to 8%.
- The new product is the first liquid-staking instrument for the XRP ecosystem. It operates on XRPL’s EVM sidechain and is designed to be a transferable ERC-20 token that can be deployed across various DeFi protocols for additional yield.
- The launch comes as interest in XRP-related products is increasing, highlighted by the debut of the first XRP ETF by Rex Osprey, which saw a record US$36 million in first-day trading volume.
Midas and Interop Labs have introduced mXRP, a tokenised product that converts idle XRP holdings into yield-generating assets.
Announced Monday, the launch marks the first liquid-staking instrument built directly for the XRP ecosystem, issued on XRPL’s EVM sidechain through audited smart contracts.
It works pretty simply: users deposit XRP, which is wrapped under Midas’ tokenised certificate framework, to mint mXRP, and then deploy it across DeFi protocols for additional yield, basically like any other liquid staking tokens (LST).
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More XRP Yield Products as Demand Rises
The release follows a wave of XRP yield products from several crypto companies, most notably Doppler Finance, which recently received over US$30 million (AU$45 million) from VivoPower to create an XRP treasury yield programme. Crypto News Australia also reported that the CME Group will introduce options contracts tied to XRP futures by October 13.
The firm’s co-founder and CEO, Dennis Dinkelmeyer, argues mXRP differs because it is a transferable ERC-20 token that can integrate across DeFi rather than operate like a savings or lending account.
Moreover, target returns are projected between 6% and 8%, depending on the performance of strategies such as market-making and liquidity provision. Holders can also deploy mXRP across DeFi protocols for additional yield.
The news also comes as the first XRP ETF by Rex Osprey debuted with a record trading volume: over US$36 million (AU$54.6 million) in day one, according to data from Bloomberg’s Eric Balchunas.
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